Oyo State Launches Youth Agribusiness Loan Scheme

The Oyo State Government, through the Oyo State Agribusiness Development Agency (OYSAADA), is set to commence a loan scheme for young farmers across the state, as announced by the Director General, Debo Akand, during a press conference in Ibadan on Wednesday. This initiative aims to empower the youth to engage in agricultural activities, thereby boosting the agricultural sector and overall economic growth.

The program is scheduled to begin next week and is part of a broader strategy to introduce practical opportunities in the agricultural venture sector. The state government, in collaboration with the Agricultural Credit Corporation, plans to disburse N1 billion in agricultural support loans to farmers across seven geopolitical zones in 2023.

The initiative focuses on youth participation and entrepreneurship in agriculture, with training programs already benefiting 60 youths in Nasarawa State. Governor Seyi Makinde continues to support investments in agribusiness, emphasizing the importance of youth engagement in enhancing food security and job creation.